Skip to main content

SUMMER SAVINGS 90% OFF QuickBooks for 3 months* Ends 8/27

Buy now
Switch to QuickBooks and 70% off for 3 Months
Talk to Sales: 877-683-3280
Hours
Mon - Fri, 5am - 6pm PST
Sat - Sun, 7am - 4pm PST
Product support & help
Need help signing in?
R
RSPosner
August 31, 2020
Question

Payroll tax moratorium

  • August 31, 2020
  • 8 replies
  • 22 views

Hello QB:

Since the payroll taxes need to be paid back by the employee, please make any implementation optional so a business may opt-out.  Many employees may not be able to afford to pay back a loan.

Regards,

Ron

    8 replies

    MaryLurleenM
    MaryLurleenM
    Level 6
    August 31, 2020

    Hello there, RSPosner,

     

    The US Treasury is working on issuing guidance surrounding the implementation of the deferral and we will provide up to date information on how IRS wants this to be implemented.

     

    You can check this for now: https://www.irs.gov/newsroom/guidance-issued-to-implement-presidential-memorandum-deferring-certain-employee-social-security-tax-withholding.

     

    Let me know if you have other questions.

    R
    RSPosnerAuthor
    August 31, 2020

    Hello MaryLurieenM:

     

    Guidance is not law, which means employers have discretion to act in the best interest of employees and the company.  Again I wish for QB to allow one to opt-out of any  moratorium for which an employee has to pay back the money.

     

    Regards,

    ron

    E
    ekileen
    August 31, 2020

    Agreed. I'm hoping QB Payroll allows for this to be an optional change.

    All of my hourly employees would qualify for the deferral. However, it is not a credit and thus tracking it and then getting the money back in January is a large burden to put on the payroll staff.

    Need QuickBooks guidance?
    Log in to access expert advice and community support instantly.
    Terms & ConditionsAccessibility statement